In previous posts, the importance of having a Power of Attorney has been discussed (see Maggie Green‘s “The Power of Attorney In Real Life” and my post “Powers of Attorney: The Basics”). In general, the document is a good one to have while you are alive to ensure that important documents and other financial matters […]
Grieving through Facebook has been previously discussed on Epilawg (see Jen Santini’s post, Grieving in the Digital Age), but I was again reminded of this topic as the result of a recent Minneapolis Star Tribute article by Katie Humphrey, Facebook is Changing the Way We Grieve. Ms. Humphrey reminds us that, “[d]eath doesn’t kill a […]
If Congress ultimately expands gun legislation, then it could have a profound impact on an individual’s ability to transfer guns to their beneficiaries. Bequeathing a gun in an estate is very different from passing on other personal property. Because a gun is a regulated piece of personal property at both the federal and state levels, […]
Trustee A trustee is a fiduciary with a high degree of responsibility. As a fiduciary, a trustee has legal duties that he or she must perform. As discussed in Maggie Green’s series of posts, those duties include loyalty, impartiality, and recordkeeping. A trustee must act out of loyalty to the beneficiaries and not to further […]
Last week, I was lucky enough to see the cliff up close. Not the fiscal cliff that kept us all riveted (or not) for the month of December, but a beautiful snow covered cliff. And it got me thinking: was the fiscal cliff all much ado about nothing?
A couple in love has a baby but they haven’t tied the knot. Many times they also haven’t created an estate plan. Unfortunately, the unwed parents in love need an estate plan more than married parents. Why, you ask? Well, if an unwed parent dies without a plan, the surviving parent doesn’t inherit any of […]
Bethenny Frankel is the real housewife turned mogul, who sold her SkinnyGirl drinks to Beam Global for $120 million. In a matter of a few years, Bethenny went from near bankruptcy to multi-millionaire. She also went from single, to marriage, to motherhood in that same time frame. And now, she is getting divorced. I don’t pretend to be […]
Some people continue to ask why they need an estate plan, especially since Congress passed the American Taxpayer Relief Act, which made the $5 million federal estate tax exemption permanent. The question is often, “If my estate is under $5 million, why do I need an estate plan or need to be concerned with any […]
Make this your new year’s resolution. Or don’t. Either way, these six things should give you peace of mind that your family and friends will not struggle through the probate process. 1. Make a list of your stuff Create a simple list of your assets with corresponding values – use a ballpark value if you don’t […]
Last week, The New York Times ran a piece called “Help for Planning End of Life Care.” The blog post, by Paula Span, discusses a new website called Prepare, which is to help people prepare for their death and communicate their end of life wishes to their loved ones. Here at Epilawg, we have talked […]
The American Taxpayer Relief Act of 2012 does the following: Tax Rates – For most individuals it extends the lower federal income tax rates that have existed for the last ten years. However, if you make more than $400,000 (or $450,000 for joint filers), your top rate will increase to 39.6%. Capital Gain Rates – Again for […]